77
Lesson 77 of 84 · Economics
How Factories Make Products
Factories use machines and workers to produce large quantities of goods. The factory system made products cheaper and more widely available during the Industrial Revolution.
Key Facts
1
Every choice has an opportunity cost.
2
Money is a medium of exchange.
3
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What happens when demand is high and supply is low?